This Black Social History is design for the education of all races about Black People Contribution to world history over the past centuries, even though its well hidden from the masses so that our children dont even know the relationship between Black People and the wealth of their history in terms of what we have contributed to make this world a better place for all.

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Sunday, 28 September 2014

BLACK SOCIAL HISTORY : AFRO-LIBERIAN "" EDWARD JAMES ROYE " SERVED AS THE 5th PRESIDENT OF LIBERIA FROM 1870 TO HIS OVERTHROW IN 1871 : GOES INTO THE "" HALL OF BLACK GENIUS "

Presidency (1870-71)

Roye was inaugurated as President of Liberia on January 3, 1870.

The decades after 1868, escalating economic difficulties weakened the state's dominance over the coastal indigenous population. Conditions worsened, the cost of imports was far greater than the income generated by exports of coffee, rice, palm oil, sugarcane, and timber. Liberia tried desperately to modernize its largely agricultural economy.

Financial problems

As Roye took office, the country was in the midst of political instability exacerbated by a fiscal crisis. Roye began a program of reconstruction with the intention to build new roads and schools. In order to raise the funds for these projects, Roye sailed to England where he began negotiations with London banks. The terms of the loans were severe; among other things, the interest rate on the loan was 7 percent. Roye hastily agreed to the loans without consulting the legislature. Liberia actually received approximately $90,000, while bonds were issued for $400,000.

Because of increasing world competition from Brazilian coffee, European sugar beets, and steamers, Liberia was unable to generate sufficient export revenue, and defaulted on the loan negotiated by Roye. Recession forced Liberia into a series of ever larger loans. The decline of Liberia's exports and its inability to pay its debts resulted in a large measure of foreign interference.

Death

No specific historical record is available detailing the date and circumstances of his death, although varying accounts indicate that he was killed on February 11 or February 12, 1872. Another account suggests that he drowned while trying to reach a British ship in Monrovia harbor, on Feb. 12, 1872.

A portrait of President Roye in the gallery of the Presidential Mansion in Monrovia gives the date of his death as February 11.[3]